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£10bn boost for UK battery storage projects

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NatPower, a UK startup that is part of a much larger European energy group, is to submit planning applications for three gigaparks, with a further 10 to follow next year.

This is a massive boost to the UK’s green power industry and the investment, said to be worth £10bn, would create the largest portfolio of battery storage projects in the country.

Battery storage is a critical component in modernising the UK’s power grid and this investment would lead to the construction of 60 gigawatt hours of battery storage, which will be crucial in handling energy generated by renewables.

Two of these gigaparks would be located in the north of England, with a further site in the west of the country planned later this year.

The renewables sector in the UK has struggled of late, hit by supply chain issues and by waiting lists of up to 15 years for new projects, such as wind- and solar farms, to be connected to the grid.

NatPower said that it plans to finance, own and in some cases operate these projects, and has set aside £600m to invest in new substations.

It has to be hoped that after a difficult few years for the sector this announcement will help to accelerate the shift to renewables here in the UK by providing vital investment in the grid and enabling the next phase of the green energy transition which, in time, will help to bring down the cost of energy.